Scott Voss, Managing Director of one of Boston’s preeminent venture capital firms HarbourVest, joins CJ for an in-depth exploration of secondaries, continuation vehicles, and sidecar funds. Scott starts by outlining HarbourVest's value proposition and investment strategies, covering primary investments, secondaries, and direct co-investments while underscoring the importance of private market access for diversified portfolios. He shares the framework HarbourVest uses to identify and support emerging fund managers ahead of their success, and the process of due diligence and evaluation. Scott sheds light on how continuation vehicles work in the private equity space and other trends or innovations he has identified. The discussion also covers the complexities of succession planning within private equity firms, the evolving landscape of global entrepreneurship and venture capital internationally, and Scott’s views on AI.

If you're looking for an ERP head to NetSuite: https://netsuite.com/metrics and get a customized KPI checklist.

—

SPONSORS:

Operators Guild is where the best CEOs, CFOs, VPs of finance, and BizOps leaders in the business connect, network, and grow together. Built by operators for operators, this members-only community is home to more than 1000 of the most elite high-growth operators in the world. Experience connection and knowledge share with professionals who understand you like no one else does. Learn more and apply at operators-guild.com.

Maxio is the only billing and financial operations platform that was purpose built for B2B SaaS. They're helping SaaS finance teams automate billing and revenue recognition, manage collections and payments, and put together investor grade reporting packages. 🚀 Request a demo at www.maxio.com/runthenumbers for 10% off your first year.

Leapfin is accounting automation software that automatically prepares and posts reliable journal entries. High-growth businesses like Reddit, Canva, and Seat Geek choose Leapfin to eliminate manual tasks, accelerate month-end close, and enable accounting leaders to provide faster insights to help their companies grow. To automatically standardize your revenue data with measurable business impact, check out leapfin.com today.

Mercury is the fintech ambitious companies use for banking and all their financial workflows. With a powerful bank account at the center of their operations, companies can make better financial decisions and ensure that every dollar spent aligns with company priorities. That's why over 100K startups choose Mercury to confidently run all their financial operations with the precision, control, and focus they need to operate at their best. Learn more at mercury.com.

Mercury is a financial technology company, not a bank. Banking services provided by Choice Financial Group and Evolve Bank & Trust®; Members FDIC.

NetSuite provides financial software for all your business needs. More than 40,000 companies have already upgraded to NetSuite, gaining visibility and control over their financials, inventory, HR, eCommerce, and more. If you're looking for an ERP platform ✅, head to NetSuite https://netsuite.com/metrics and get the CFO’s Guide to AI and Machine Learning.

—

@cjgustafson222 (CJ)

—

TIMESTAMPS:

(00:00) Preview and Intro

(01:46) Sponsor – Operators Guild | Maxio

(05:02) HarbourVest’s Value Proposition

(09:39) Accessing the Private Market

(11:28) Investing in Early Fund Managers Ahead of Their Success

(13:13) The Process of Due Diligence and Evaluation

(14:20) Identifying Investments Versus the Ability to Access the Right People

(16:16) Sponsor – Leapfin | Mercury | NetSuite

(19:35) How Continuation Vehicles Work in the Private Equity Space

(23:27) Quality Versus Timing When It Comes to Continuation Vehicles

(24:04) Other Trends or Innovations in the Space

(26:19) Sidecar Funds

(28:07) Succession Planning in VC and PE Firms

(32:17) GP Stake Funds

(34:28) How Succession Planning Is Likely to Evolve over Time

(35:13) Private Equity in the Capital Markets and the State of Global Entrepreneurship

(37:25) Sequestering International Versus Domestic Investments

(40:31) The Potential Emergence of China as a Sci-Fi Innovation Hub

(42:48) Scott’s Take on AI

(44:09) Career Insight: Luck Versus Talent

(47:35) Advice About Hobbies

(50:26) Wrap

Get full access to Mostly metrics at www.mostlymetrics.com/subscribe

Secondaries, Continuation Vehicles, and Sidecar Funds: Private Equity with HarbourVest’s Scott Voss

Run the Numbers